Instead, the giant food producer known for its Tyson and Hillshire Farms brands is using blockchain technology to reduce food waste and track packages should contamination issues arise. Tyson has teamed up with IBM (IBM) on the blockchain initiative. It's being joined by others in the food business including Walmart (WMT) , Nestle and Unilever (UL) .

"I think blockchain will have an enormous impact on the food business," Tyson Foods CEO Tom Hayes told TheStreet. "Something like tracking packages that used to take weeks now takes seconds."

Hayes is also bullish on Tyson's opportunity to make a major acqusition. No need to use blockchain for that one, just cold hard cash.

"We are on the hunt," Hayes revealed to TheStreet when asked about the serial acquirer's appetite to make a new purchase.